The present invention is directed to a receptacle exchange for a pick or put receptacle and a method for exchanging a pick or put receptacle with a process location at which an operator processes a receptacle by picking articles from or putting articles to a receptacle. While the invention is illustrated for use with a one-to-many pick station, it may also find use with a one-to-one pick/put station. While the invention is illustrated for use with a goods-to-person station, it may also find application, such as with a goods-to-robot station, or the like.